Ethereum News Today: Eric Trump cheers ETH short liquidations as price jumps 4.6% above $4,000

Eric Trump, son of former U.S. President Donald Trump, publicly expressed approval on August 8, 2025, as $105 million in Ether (ETH) short positions were liquidated following a significant price surge. The cryptocurrency’s price climbed above $4,000 for the first time since December 2024, according to crypto analytics firm CoinGlass, marking a key turning point for bearish traders. Eric Trump shared his sentiment on X, formerly known as Twitter, stating, “It puts a smile on my face to see ETH shorts get smoked today. Stop betting against BTC and ETH – you will be run over.” [1]

The liquidation accounted for about 53% of the total $199.61 million in crypto shorts wiped out that day. Ether’s price reached an intraday high of $4,060, representing a 4.6% increase in the previous 24 hours, as reported by Nansen. While the price slightly pulled back to $4,015 by the time of publication, the momentum signaled growing optimism among traders. Analysts note that a break above $4,100—a major resistance level—could trigger a short squeeze, potentially propelling the price toward $4,400–$4,500, as suggested by trader Ash Crypto [1].

The bullish trend is also supported by growing institutional interest. Over the past four trading days, spot Ether ETFs recorded inflows of approximately $537 million, according to data from Farside [1]. Some traders and analysts have made more aggressive predictions, with Moustache suggesting ETH could reach $10,000 or higher, and Fundstrat co-founder Tom Lee comparing Ether’s potential to Bitcoin’s 2017 rally, forecasting a possible rise to $16,000 [1].

The event highlights the increasing volatility in the crypto market and the impact of large short positions on price dynamics. If Ether continues to gain traction and breaches key levels, it could further disrupt short-term bearish strategies and encourage more bullish positioning among traders. The absence of significant regulatory alerts so far suggests that the market is handling the volatility without immediate external intervention.

Source: [1] Ethereum top is in? ETH sell-pressure hits $419M, second-highest level ever – Cointelegraph (https://cointelegraph.com/news/ether-short-wipeout-eric-trump-bullish-eth)